Research

At B. Riley, our research process is an interactive one where we perform extensive due diligence on companies until the analyst develops the knowledge base and understanding of the company and the industry to make a recommendation. Our analysts continuously monitor industry developments and communicate with the management, competitors, suppliers and customers of the companies we follow, regularly communicating our findings through Research Updates and daily Morning Notes.

While we do not necessarily publish research on all of the companies we review, the knowledge base and understanding of many of our monitored companies parallels that of our covered companies. We actively cover over 100 companies and monitor an additional 100. Our analysts cover small to mid-cap companies that are under-followed or misunderstood by Wall Street. We believe that the pricing of small cap equities is frequently inefficient, and therefore provides the greatest potential rewards to diligent security analysis.

This Week's Research

  • 09/29/16 Update JBL ($22.00, Buy; $27.00 PT): Takeaways from Analyst Day; JBL to Monetize 50 Years of Manufacturing Expertise with Launching of Innovation Acceleration…
  • 09/29/16 Update COTY ($23.82, Neutral; $23.25 PT): With Bad News Now Out in the Near-Term and 20% Plunge in Recent Weeks, Coty Appears Closer to Fair Value; Cutting…
  • 09/29/16 Update MAMS ($6.00, Neutral; $5.50 PT): Reports In Line Q4 Results; Guides FY ’17 Adj. EBITDA Below Our Prior Model; Lowering Estimates and Price Target…
  • 09/29/16 Morning Note B. Riley AM Note: COTY, MAMS
  • 09/28/16 Update ACLS ($13.16, Buy; $16.00 PT): Focus On Longer Term Growth At First Analyst Day; Retain Buy Rating and $16.00 PT
  • 09/28/16 Update NKE ($55.34, Neutral; $55.00 PT): 1Q17 EPS Beat on Other Income and Tax; Sequential Futures Deceleration Continues; Default 1Q17FY17 EBIT Guidance…
  • 09/28/16 Update SIX ($54.00, Buy; $65.00 PT): Continued Optimism Following Road Show; Lowering Estimates on Adverse Weather
  • 09/28/16 Morning Note B. Riley AM Note: ACLS, AOSL, NKE, SIX
  • 09/28/16 Update AOSL ($21.09, Buy; $26.00 PT): Increasingly Confident In Company-Specific Growth; Increase PT From $20.50 To $26.00
  • 09/27/16 Update HEAR ($1.38, Buy; $2.00 PT): Announces Meaningful HyperSound Spending Cuts While Maintaining Profit Participation; Creates Upward Bias to Our 2017…
  • 09/27/16 Initiation of Coverage TNDM ($8.15, Buy; $10.00 PT): Upgrade Cycle, Coupled with Strong Pipeline, Should Drive Strong Revenue Growth; Initiating at Buy with a $10.00 PT
  • 09/27/16 Initiation of Coverage PODD ($43.26, Neutral; $46.00 PT): Uncertainty Regarding U.S. OmniPod Growth; Initiating at Neutral with a $46.00 PT
  • 09/27/16 Update Industry Update - Semiconductors: Late-3Q Check-In On Tech Supply Chain Inventory And Other Fundamental Data Points (AVGO, ISIL, MCHP, MRVL, ON, SMTC,…
  • 09/27/16 Update Industry Update - Medical Technology: Positive Growth Trends Continue for the Diabetes Medical Technology Industry (DXCM, PODD, SENS, TNDM, VLRX)
  • 09/27/16 Initiation of Coverage DXCM ($93.16, Neutral; $97.00 PT): Very Strong Fundamentals, but a Rich Valuation Keep Us on the Sidelines; Initiating at Neutral with a $97.00 PT
  • 09/27/16 Initiation of Coverage SENS ($3.93, Buy; $5.50 PT): The Eversense CGM is Not Just a Science Project; Initiating at Buy with a $5.50 PT
  • 09/27/16 Initiation of Coverage VLRX ($6.25, Buy; $7.50 PT): Leader in the Disposable Insulin Delivery (Patch Pump) Market for Type II Diabetics; Initiating at Buy with a $7.50 PT
  • 09/27/16 Update P ($13.99, Buy; $18.00 PT): Management Meeting Addresses Brand Refresh, On Demand Differentiation, Lifetime Value and Monetization; Reiterate Buy
  • 09/27/16 Morning Note B. Riley AM Note: HEAR, KE, P, Medical Technology Initiations (DXCM, PODD, SENS, TNDM, VLRX), Semiconductors (AVGO, ISIL, MCHP, MRVL, ON, SMTC, SWKS)
  • 09/26/16 Update NKE ($55.15, Neutral; $55.00 PT): No Change to Our 1Q17 EPS Estimate, but We’re Lowering our Sales Forecast for 1Q17 and our Sales/EPS Estimates…
  • 09/26/16 Update OUTR ($52.01, Buy; $58.00 PT): Discontinuing Coverage Ahead of Completed Acquisition by Apollo Management
  • 09/26/16 Update NLS ($24.65, Neutral; $23.00 PT): Downgrading to Neutral on Valuation; Unchanged Estimates and Price Target
  • 09/26/16 Morning Note B. Riley AM Note: CAMP, FINL, IDCC (downgrade), NKE, NLS (downgrade), OUTR
  • 09/26/16 Update CAMP ($16.36, Buy; $29.00 PT): Earnings Preview: Leveraging LoJack with Innovative Telematics Services Like LotSmart and SureDrive; Trading Near 10%…
  • 09/26/16 Update IDCC ($78.20, Neutral; $80.00 PT): Risk/Reward Balanced After 60% YTD Move as Estimates Reflects Huawei and Other Potential China Handset Royalty…
  • 09/23/16 Update FINL ($23.54, Buy; $26.00 PT): Better-Than-Expected 2Q17 Comp and In Line EPS; FY17 Guidance Reiterated; We Believe FINL is Well Positioned on Favorable…
  • 09/23/16 Morning Note B. Riley AM Note: AMRK, ARTX, CARB, LGF, MAMS, SMTC
  • 09/23/16 Update AMRK ($15.72, Neutral; $16.25 PT): Fiscal Q4 ’16 Results Below Our Estimates; Lowering Estimates; Lowering Price Target from $18.50 to $16.25
  • 09/23/16 Update CARB ($14.80, Buy; $17.00 PT): Highlights from Non-Deal Roadshow
  • 09/23/16 Update MAMS ($5.85, Neutral; $6.00 PT): Earnings Preview: Expect Q4 ’16 Results In Line With Our Estimates